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2 years ago

Mr. Coffey bought a house for $195,000. He made a 20% down payment. The interest

Business

1 answer:

slamgirl [31]2 years ago

6 0

Answer: $861.44

Explanation:

Given the following :

Purchase price = $195,000

down payment = 20%

Interest rate = 5.25%

Period = 30 years

Down payment = 0.2 × $195,000 = $39,000

Therefore, loan amount will be :

$(195,000 - 39,000) = $156,000

The payment per period (monthly payment) can be calculated using the annuity calculator.

Present value = $156,000

Number of periods = 30yrs = 30× 12 = 360 months

Interest = 5.25% / 12= 0.4375% = 0.004375

Future value = 0 (Amount when entire loan has been paid)

Therefore, the payment per period is $861.44 using the financial calculator.

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Suppose Capital One is advertising a 60-month, 5.04 % APR motorcycle loan. If you need to borrow $ 8 comma 100 to purchase your

zhuklara [117]

Answer:

$153.01

Explanation:

For computing the monthly payment we need to apply the PMT formula i.e to be shown in the attachment

Given that,

Present value = $8,100

Future value or Face value = $0

RATE = 60 months = 5 years × 12 months

NPER = 5.04% ÷ 12 months = 0.42%

The formula is shown below:

= PMT(RATE;NPER;-PV;FV;type)

The present value come in negative

So, after applying the above formula, the monthly payment is $153.01

3 0

2 years ago

Parvis makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are

Bumek [7]

Answer:

Balance as on 31st December = $46,000

Explanation:

Sales October November December Balance

October $70,000 $14,000 $49,000 $7,000 $0

November $60,000 $12,000 $42,000 $6,000

December $50,000 $10,000 $40,000

Balance as on 31st December $46,000

Workings

October: 20% of 70,000 = 14,000, 70% of 70,000 = $49,000, 10% of 70,000 = $7,000

November = 20% of 60,000 = 12,000, 70% of 60,000 = $42,000, Balance = 60,000 - (12,000+42,000) = $6,000

December = 20% of 50,000 = $10,000, Balance = 50,000 - 10,000 = $40,000

3 0

2 years ago

One way to prevent relapse is to recognize and use the tools we have to be active. what are some tools you have gained this seme

Cerrena [4.2K]

Maintaining an active lifestyle requires small but manageable changes in daily life. First of all, awareness is key. How many steps do you normally take? What do your work life and home life look like in terms of movement? Once someone knows what a typical day looks like, they can see where they are weak. Small changes can then be made, such as parking the car further from the store or taking walking breaks when sitting at the office desk for hours each day. Finally, an active lifestyle can be social. Being with friends does not have to revolve around food and drink; rather, friends can be enjoyed while playing leisurely sports (i.e., racquetball, tennis) or walking while conversing.

5 0

2 years ago

Suppose the following bond quotes for IOU Corporation appear in the financial page of today’s newspaper. Assume the bond has sem

wlad13 [49]

Answer:

a. 4.89%

b. 5.23%

Explanation:

We use the rate formula which is shown in the attached spreadsheet

Given that,

Present value = $2,000 × 108.96% = $2,179.20

Future value or Face value = $2,000

PMT = $2,000 × 5.7% ÷ 2 = $57

NPER = 16 years × 2 = 32 years

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after solving this,

a. The yield to maturity of the bond is 4.89%

b. The current yield would be

= 57 × 2 ÷ $2,179.20

= 5.23%

4 0

2 years ago

Mike is the Director of Human Resources for a 120-employee family-owned manufacturing firm. Mike has been quite busy the last ye

inn [45]

Answer:

A. Assuming that employees would understand the content of the PowerPoint slides

Explanation:

One of the most common mistakes that can be made is assuming that the receiver on the other end of the communication chain would understand quite well, what message, you as the sender, is passing across.

In the scenario cited in the question above, the new benefit offerings that have been developed after the overhauling, of which Mike has taken his time to explain in a power point presentation just few months before employees would be required to enroll for the program, must have been misunderstand by the employees. The multiple emails reveals that the employees do not really understand the content, and this comes as a surprised to Mike. We can infer that Mike must have made the mistake of assuming that the employees would understand the content of the PowerPoint slides.

3 0

2 years ago